Most Asian stock markets experienced declines as political unrest in South Korea dominated headlines. Following President Yoon Suk-Yeol’s martial law declaration, investor sentiment turned cautious. With the global focus shifted to upcoming guidance from the Federal Reserve, market optimism was notably affected.

The KOSPI index in South Korea fell more than 2% amid protests and political instability. As further backlash against President Yoon’s decision ensued, the index reflected heightened investor anxiety.

This turmoil raises concerns about potential spillover effects on the broader Asian economies. Japan also saw declines in its Nikkei 225 and TOPIX indexes amidst fears regarding South Korea’s stability.

With all eyes on Powell’s impending remarks on monetary policy, traders should prepare for volatility across regional markets as uncertainty continues to linger regarding these crucial developments.